BOSTON, MA – Northeastern, Boston University, M.I.T., and Harvard rank as having the highest average apartment rents within a one-mile stretch of their campuses. This designation was relegated to the better known Boston area universities.
Real estate listings and research site RentCafe followed apartment rents within a mile radius of the nation’s top 100 universities as listed by U.S. News and World Report. The results of the study were fairly alarming.
It turns out that the average price of rent near Northeastern, BU, and M.I.T were unusually expensive: $3,335, $3,321, and 3,286 a month, respectively. The average price within a one-mile range of Harvard was about $2,780. Granted, that is still a whopper of a price but definitely cheaper than the Cambridge average of $3,031 a month.
As far as Chestnut Hill is concerned, RentCafe said the general average hovered right around $3,103. According to this data then, renting within one-mile of Boston College is noticeably more affordable than renting in Chestnut Hill overall. In fact, the average apartment rents that are as close as one mile of Boston College is $2,137.
Also, if you rent in close proximity to Brandeis University, it seems you’re in line for much cheaper prices than the rents generally are Waltham. In fact, rents were about $100 cheaper if it was near Brandeis. Now, when it comes to Tufts University, the rents are also less costly than the area of Medford in general.